Why I bargain hunt now Hi Hockey, I did say that I am starting to see buying opportunities in the stock now. I am an investor, so it’s not my job to support a company’s market. It’s in my interest to sit and snipe at just the right time. I like to buy low and sell high. Anyone who likes this company will probably do the same.
Comparing El Creston to Osisko’s Malartic is like comparing a baby blue whale (El Creston) to an ageing brontosaurus (Malartic). Totally different geological assets and completely different stages in the discovery cycle.
Malartic is a large high-quality Gold deposit / mine whereas El Creston is an early-stage, but potentially mega-large Iron Ore Project. It could be huge, but obviously it will take exploration and resource delineation.
As for stock performance, I look at Osisko and I see it is down -26% year to date and is clearly in a steep downtrend. That is one tough haircut to take in little over a month. From year high of $12.97 to today’s price of $5.91 that’s a -54% drop. Ouch!
Sierra Iron is only down -6.5% from year start 2013 and the pricing and volume has flattened out. So I am not sure that Osisko stacks up favorably against Sierra in that regard either.
For me it is really easy to see how, when a few things line up, Sierra could put on a 100%+ run in a short time, but when I look at Osisko, I don’t see the same thing. Osisko’s assets are well known and that is why the market is stomping down the share price relentlessly. But Sierra is just getting started, so any news from exploration will be greeted by the markets as new and exciting.
I don’t have much confidence in stock promoters because of course it is their job to pitch a deal and see and explain the bright side. Past that I say it is up to me to be responsible for my own trades and exercise good discernment when it comes to what to invest and how. I have lost a lot of money at times too so I know bad trades hurt, but really, they are just part of the game. Be glad you had one winner in four in this market, most people have had nothing but losing trades for the past few years. No doubt the folks who bough Osisko near $13 dollars would tell you the same.
When everything settles out I am confident Sierra has a chance for a big run and I am also confident in the legal case. This comes from a close read of the 43-101, hosted on Sierra’s site, here: https://sierrairon.com/images/sierra/pdfs/El-Creston-43-101-2011.pdf. Anyone who is a serious investor should read this inside and out.
It’s fine to get tips from promoters but for sure read the real hard corporate geo docs and news releases. Read that 43-101 and you’ll see why now I bargain hunt this issue and wait for the big run!
Jarrko